The Market Sports Its Rally Cap

By
Howard J. Godfrey

Updated June 17, 2002 6:25 pm ET

Investors seized on the market's spring clearance sale, driving the Dow Jones Industrial Average up 2.25%. The market gained momentum throughout the day, jumping almost 140 points in the first 90 minutes of trading. By the end of the session, it hit 9687.42, up 213.21 points.

Analysts are hopeful that Monday's upturn is an indication that the blue chips have bottomed out and will begin to bounce back. But that's a familiar song these days.